Hostess selects stalking horse bidder for majority of assets

Twinkies and other snack cakes will not vanish from grocery store shelves.

January 31, 2013

Hostess Brands has selected affiliates of Apollo Global Management and Metropoulos & Co. as the stalking horse bidder for the majority of the company’s snack cake business, including Hostess and Dolly Madison branded products. Apollo and Metropoulos have agreed to pay $410 million for the brands, five bakeries and certain equipment. Hostess has asked US Bankruptcy Court for the Southern District of New York to authorize the company to hold an auction for the majority of its assets on March 13, 2013. The stalking horse bids have established an auction floor of more than $850 million for Hostess’ assets.

Shane O’Halloran joined Food Engineering in November of 2012 as Digital/Online Editor. He graduated from Oberlin College in 2010, and worked as a copy editor and contributor to BleacherReport.com and ShesGameSports.com. He has also written feature articles on a freelance basis for publications in the western suburbs of Philadelphia. His areas of expertise include social media campaigns and website management. Shane produces daily news updates for www.foodengineeringmag.com and Food Engineering’s social media sites. In addition, Shane writes news articles for FE’s TechFlash e-newsletter and Food Engineering’s People and Industry section.